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A lot of investors think Amgen (AMGN) is a great next-generation biotech company. Wrong. Amgen was a decent last-generation biotech company.
It's terribly managed outfit living on EPO drugs for dialysis and oncology patients. True, it has a billion dollar (actually more) drug, Neupogen, but it could be subject to generic competition in the United States from TEVA within two years.
It's a bit complicated, but in the United States, there is no regulatory pathway for biogenerics or, as the industry calls them, "biosimilars." Yet, the FDA accepted an application from TEVA for a biosimilar the company is already selling in Europe. If approved, this drug will go head to head with Neupogen.
See all six deadbeat stocks to clean out of your portfolio.
These six stocks have no place in your portfolio, and should be sold immediately. But don't stop there. Why not try to profit from them too? The way to do this is via put options. Just make sure you buy yourself enough time.
And for more moneymaking ideas, check out:
At the time of this writing, the author did not own shares of AMGN.
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